Destra crypto experiences a surge of over 30% as DSYNC trading is exempt from taxes

Destra crypto, DSYNC, has experienced a significant surge, climbing as much as 32% following the announcement that trading of the token would be tax-free. DSYNC is the native cryptocurrency of the Destra network, which is a decentralized AI computing platform leveraging blockchain technology.

According to data from CoinGecko, DSYNC saw an increase of more than 30% in just one day, reaching a trading value of $0.406 at the time of writing. The token recently hit an all-time high (ATH) in early December, surpassing $0.50 before retracting slightly. Despite this, its current price remains just 22% below its recent ATH.

Over the past week, DSYNC has been on an upward trajectory, climbing over 21%. However, it has seen a slight decline of 7.6% in the last month. The surge in DSYNC’s value can be attributed to a few key factors, including the announcement that trading DSYNC tokens would be tax-free, which was made via a post on X (formerly Twitter). This news resulted in a sharp 13% price increase initially, followed by even more substantial gains the following day.

Another possible reason for the spike could be the broader rally in AI-related tokens. Data from CoinGecko indicates that the market cap for AI meme coins has surpassed $10 billion, marking a nearly 30% increase in the past 24 hours. As of the latest figures, the combined market capitalization of AI tokens is approaching $11 billion.

Destra is renowned for optimizing AI technology within blockchain and cloud solutions, particularly by using GPUs. The network has been at the forefront of integrating decentralized AI agents into the blockchain space. Destra is also working on an upcoming platform, Destra Sentient, which will provide traders with AI agents that are designed to “think like humans, communicate naturally, and bring a new level of interaction to your digital world.”

The fusion of AI and blockchain technology is gaining traction, with major projects like ZKsync and Ripple Labs taking steps to integrate these technologies. While AI remains a relatively small segment of the crypto market, accounting for only about 1% of the total market capitalization, this could soon change as AI tokens continue to gain momentum.